WEPOWER Relaunches Biz Accelerator for STL-Based Black and Latinx Businesses

 

The Accelerators will provide entrepreneur development, access to capital, and mentorship. One 12-week program will be specific to Black and Latinx construction industry business owners, while the other 10-week program will be open to Black and Latinx business owners in all industries.

 

2024 marks the return of WEPOWER’s successful business accelerator program, with plans to support not one but two cohorts of Black and Latinx entrepreneurs. While selection for the construction business Accelerator is underway, WEPOWER’s all-industry Accelerator opened applications on Wednesday, July 24. 

 

Both Accelerator programs hope to select approximately 10 entrepreneurs with businesses based in St. Louis, who will each be able to receive a $5,000 equity-free grant and in-kind professional services, including one-on-one business coaching and training and accounting. Applicants for the general Accelerator can be from any industry, have been in business for 2+ years, with a projected 2024 revenue of $50k to $500k, and should be committed to St. Louis living wage job creation.

 

Applicants for the construction Accelerator should have been in business for at least two years with projected revenue in 2024 of between $100,000 and $1 million. They should also be committed to St. Louis living wage job creation. There will be a focus on relationship building with major contractors  in hopes of positioning participants to engage in large scale developments and projects.

 

The deadline for the construction Accelerator applications is Friday, July 26, and the deadline for general Accelerator applications will be Friday, August 9.  Interested general Accelerator applicants can apply at wepowerstl.org/accelerator. For more information about the construction Accelerator, please visit wepowerstl.org/construction-accelerator.

 

Nearly 500 WEPOWER alumni— business and community leaders— have achieved big wins that impact thousands of educators and children and scaled businesses that positively support the regional economy and create living wage jobs. Previous Accelerator cohorts have seen an average increase of 3.5x in their monthly revenue following the completion of the program. Tony Davis, owner of Pop Pop Hurray LLC, a premium gourmet popcorn shop offering a variety of flavor and topping options, now has two brick-and-mortar locations. Bold Spoon Creamery owner Rachel Burns has been featured on the PBS program tasteMAKERS and now sells her gourmet ice cream in over 70 Schnucks locations in MO and IL, Straubs Markets, and Fresh Thymes, as well as Enterprise Center, CITYPARK Stadium and the Dome. Cohort alum Tiffany Jones’ Cheryl’s Herbs Group, which provides handmade custom blend herbs and essential oils, has increased its production and retail facilities to more than 18,000 square feet and added two full-time employees. 

 

Learn more about WEPOWER’s Accelerators and other programs at wepowerstl.org. 

 

About WEPOWER:

WEPOWER’s mission is to activate community power to (1) reimagine social systems, (2) develop grassroots leaders' and organizations' capacity as agents of systems change, and (3) provide support and capital to campaigns, coalitions, businesses, and innovative initiatives that transform community visions into reality. 

 

Right now, the WEPOWER community is working to increase access to quality and affordable seats in the childcare system for babies ages 0-5 through policy advocacy and winning public funding, and close the racial wealth gap by supporting Black and Latinx-owned businesses with access to capital, coaching, and connections.